(a) In this section, “qualified nonprofit corporation” has the meaning assigned by Section 53B.02(11), Education Code.

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Terms Used In Texas Government Code 1372.033

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Year: means 12 consecutive months. See Texas Government Code 311.005

(b) Only a qualified nonprofit corporation may apply for a student loan bond allocation.
(c) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 1304, Sec. 4, eff. June 17, 2011.
(d) Each qualified nonprofit corporation that applies for a student loan bond allocation in compliance with all applicable application requirements for a program year is entitled to receive a student loan bond allocation prioritized in the order that the application was received by the board for that year.
(e) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 1304, Sec. 4, eff. June 17, 2011.
(f) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 1304, Sec. 4, eff. June 17, 2011.
(g) A qualified nonprofit corporation that receives a student loan bond allocation may not:
(1) transfer the allocation to another entity; or
(2) loan to another entity, other than a qualified borrower, proceeds of bonds issued under the allocation.

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